https://www.taxtmi.com/caselaws?id=443206 Interest earned by a co-operative credit society from fixed deposits placed with banks in compliance with statutory investment requirements was attributable to its business and not assessable merely as income from other sources. Because the society was engaged exclusively in providing credit facilities to members and was not a co-operative bank, the deposits formed part of its business-linked deployment of funds. The interest was therefore treated as business income eligible for deduction under section 80P(2)(a)(i), and the disallowance was not sustained. en-us Thu, 27 Apr 2023 00:00:00 +0530 Thu, 12 Mar 2026 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443206 Interest earned by a co-operative credit society from fixed deposits placed with banks in compliance with statutory investment requirements was attributable to its business and not assessable merely as income from other sources. Because the society was engaged exclusively in providing credit facilities to members and was not a co-operative bank, the deposits formed part of its business-linked deployment of funds. The interest was therefore treated as business income eligible for deduction under section 80P(2)(a)(i), and the disallowance was not sustained. Case-Laws Income Tax Thu, 27 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443206